Depending on the type of home loan you need will determine the documentation required to secure a loan:
Salaried individuals will require:
• Provide 3 latest payslips, if you earn a regular commission or overtime, you will need to provide the last 6 months’ payslips.
• The last 3 months’ personal bank statements, once again if you earn a regular commission or overtime, you will need to provide the last 6 months’ bank statements.
• If you are married, and the ID surnames are different you will need to provide a copy of your marriage certificate, if applicable an ANC marriage contract.
• A signed sale agreement/offer to purchase.
• A copy of your ID and if you have a smart card, a copy of both the front and the back is required
Self-employed individuals or application in the name of “the company’’ will require:
• A signed offer to purchase – OTP
• Comparable two years’ financials that have been signed by an Accountant and all the business owners.
• Management Accounts, not older than two months and signed as above.
• Accountants’ letter confirming monthly earnings/emoluments/drawings and any benefits.
• A signed and dated personal statement of assets and liabilities and a statement of personal income and expenses.
• Latest 6 Months’ personal bank statements that reflect the same 6 salary deposits
• Latest 6 months’ business bank statements
• Your Company Registration document, and your latest *IT34 from SARS (*this may be requested)
• Company resolution if you have multiple shareholders as well as your shareholders certificate
• A copy of your ID and if you have a smart card, a copy of both the front and the back is required
• If there are multiple shareholders, a copy of all IDs is required
Applications for a Trust, Building Loan or Sole Proprietor
• It is recommended that these applications should be discussed with a Select a Bond Consultant prior to your loan application
Ensuring that you have the correct paperwork will secure you the best home loan for your needs. However, this can become complicated if you have not done it before. So before you start looking for a property, contact Select a Bond for advice, a Qualifying Buyers Certificate (QBC) or Prequalification Certificate (PQC) as well as a Credit Check and Affordability Check.
Martin 082 447 3463
Kim 079 835 1476